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Purpose:

The purpose of this document is to establish standardized procedures for the day to day operations of Mu Upsilon − Tau Kappa Epsilon Housing Inc.

Meetings:

Meetings shall be held twice a year on or around September 20th and February 20th, or as needed. At these meetings the following items will be discussed:

• Raising and deciding the cost of rent for singles, doubles, and triples
• Review of rent collection
• Repairs, upkeep, and donations to the chapter
• Payments to the owner of the property.
• Review of accounts resulting in deposits, expenses, and purchases
• Review of inspections
• Plan and assess long term goals

Payments to the The Owner Of the Property:

• Payments to the LLC must be made on October 1st and March 1st.
• These payments will be the responsibility of the President of the Corporation and Corporation Treasurer.
• These payments will be made out to the owner of the property in a specified amount agreed upon by the President of the Housing Corporation and the President of the Investment Group as stated in the current housing lease agreement
• It will be the responsibility of the president to ensure payment is delivered in a timely manner on the designated date to the owner of the property.
• All other procedures between the Owners and the Housing Corporation are specified in the contract signed by both parties in July of 2008

Rent Payment:

• It shall be the duty of every board member of the Housing Corp to ensure that residents pay their rent on August 1st, September 15th, November 1st, and February 15th of every year.
• Payments shall be recorded online on Google Documents so that every board member can view and update them at will
• Failure of a resident to pay on time will result in a $50 fine which will be administered by the treasurer
• A second failure to pay rent will result in a bill being mailed to the resident's cosigner requesting the payment within seven days as well as another $50 fine to be administered by the treasurer
• If failure to pay rent continues the resident and cosigner will be reported to a collection agency and Owners shall be made aware of the situation
• All fines and bills that have not been paid by the end of the lease will be deducted from the resident's security deposit

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Distribution of Housing Corp. Income and Expenses:

Income shall be distributed in the following ways:

• Payments made to the Owners
• Scholarship Fund
• Maintenance Fund
• Savings / Emergency Fund
• The Treasurer will submit a review of accounts at the beginning of every meeting
• Whenever a deposit is made an account update must be e-mailed to the Corporation Treasurer
and President
• Corporation expenses must be signed off on by the President and Treasurer

Expenses shall be limited to:

• Maintenance
• Philanthropy
• Scholarships
• Rent
• Books
• House upkeep
• Items purchased for the chapter

The following items shall not be purchased:

• Anything having to do in anyway with alcohol, drugs, sexual favors, prostitution, gambling, and any illicit activities or personal use

Leasing:

• Leasing will begin on September 1st and will continue until November 15th at which point all leases and security deposits must be deposited and filed
• It shall be the responsibility of the Vice President and a board member of his choosing to ensure that all leases are signed by November 15th of each year
• Leases shall be made available online and in print on September 1st
• Leases shall be kept and maintained by the president
• Leases shall be reviewed by all board members at the meeting previous to September 1st

Maintenance and Inspections:

• Inspections shall be carried out by a member of the Housing Corporation at least twice a semester
• Inspections will be carried out in a rotation of board members unless a volunteer comes forward
• The rotation will start with the President, followed by the vice president, followed by the treasurer, followed by the individual board members in alphabetical order
• It will be the duty of the inspector to make the chapter aware of what day he will be coming down to inspect if the inspector feels so inclined
• An inspector must print out the floor plans of the house on which to make note of damages
• The inspector must make the marked floor plans public to the Owners, the Fraternity, and the rest of the Housing Corporation within 5 days of the inspection
• Damages that are caused by an individual member will be noted and that individual will receive a quote from a licensed contractor, which will be paid within 10 days. If said repair is not paid for within 10 days the individual shall receive a $50 fine from the housing corp. administered by the treasurer.
• Damages that are unexplained will be noted, assessed, and then the cost to repair will be charged to the chapter
• Damages that are not caused due to the negligence of the tenants and are instead caused by a natural occurrence, i.e frozen pipes, trees falling through the roof, and etc. shall be covered by the Housing Corporation
• All reductions in residents' security deposits must be noted and explained to the resident. Official notice will be given to the chapter members and posted in the house, with the infractor having two weeks to dispute the charges.
• A record of all maintenance, inspections, and costs must be updated regularly for review
• Residents who do not clean their rooms and do not leave them in the same condition in which they began their lease will forfeit half of their remaining security deposit for repairs and cleaning after their lease has ended
• If the resident's security deposit is reduced to zero all other fines will be sent directly to the resident's guarantor. If no guarantor is present, the fine will be tacked onto the resident's next rent payment and will be brought to the attention of the collection agency.

Chapter and BOA Communication:

• All communication between the Housing Corp. and its affiliated bodies will go through the following channels
• All messages issued from the Housing Corp. must be approved by the President or Vice President
• Messages to the chapter will be handed down to the Histor, Pylortes, and Chapter Prytanis
• Messages to the BOA shall be issued to the Board Chairman and Alumni President